Grain growers gobsmacked by ADM deal rejection

Posted
November 29, 2013 14:53:15

The Australian grain industry is in shock, after the Treasurer Joe Hockey announced he will not allow American food giant Archer Daniels Midland to buy GrainCorp. GrainCorp's chairman says he feels like he's lost a year of his life, and ADM, perhaps with great understatement, says it's disappointed by the Treasurer's decision. Grain growers from NSW, Queensland and Victoria had lobbied for this result, but few actually expected it to happen. ABC Rural's Anna Vidot takes a look at whether the result is in the best interests of eastern states grain growers.